Can professors afford to retire? Evidence from a survey of Canadian university pension plans

Allen Goss

Journal of Pension Economics and Finance, 2007, vol. 6, issue 2, 187-226

Abstract: I explore the diversity among pension plans offered to faculty at 52 Canadian universities. Far from displaying homogeneity, I find marked differences between the plans, both in their structure (DB, DC, and hybrid) and in the replacement ratios from those plans. Using financial simulations I construct representative pension payoff profiles for each plan and find expected replacement ratios (the annual annuity stream available at retirement expressed as a percentage of final wages) ranging from 54.3% to 88.2% and internal rates of return on contributions varying from 10.39% to 18%.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:6:y:2007:i:02:p:187-226_00

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